Costco Wholesale (NASDAQ:COST) Shares Down 0.3% – Here’s Why

Costco Wholesale Co. (NASDAQ:COST) was down 0.3% during trading on Tuesday . The stock traded as low as $955.50 and last traded at $962.25. Approximately 679,553 shares traded hands during trading, a decline of 63% from the average daily volume of 1,854,138 shares. The stock had previously closed at $965.25.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COST shares. DA Davidson increased their price target on Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. UBS Group increased their price target on Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Loop Capital increased their price target on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group upped their price objective on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company upped their price objective on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,013.59.

Costco Wholesale Price Performance

The stock has a market capitalization of $425.55 billion, a price-to-earnings ratio of 56.29, a PEG ratio of 5.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The company has a fifty day simple moving average of $952.49 and a two-hundred day simple moving average of $904.81.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.16 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. Costco Wholesale’s payout ratio is 27.25%.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its position in Costco Wholesale by 113,947.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after acquiring an additional 7,364,453 shares during the last quarter. Strategic Financial Concepts LLC grew its position in Costco Wholesale by 100,422.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after acquiring an additional 795,345 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Costco Wholesale by 55.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock worth $979,284,000 after acquiring an additional 382,367 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Costco Wholesale by 75,894.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock worth $300,473,000 after acquiring an additional 338,489 shares during the last quarter. Finally, FMR LLC grew its position in Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after acquiring an additional 324,973 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.